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AT&S Austria Technologie & Systemtechnik Aktiengesellschaft has essentially adjusted three of its assumptions regarding the future development within the current financial year:
The start-up of the new production capacities at the plant in Chongqing, China, is proceeding faster than previously expected and the update of customer orders shows a higher-quality product mix, which involves higher revenue and improved margins.
The Covid-related lockdown in Shanghai, China, had significantly lower negative effects on the Shanghai plant than expected in the company’s planning so far.
The expected exchange rate for the current year has been adjusted to 1.07 euros/US dollar (previously: 1.17 euros/US dollar) and 6.9 euros/RMB (previously: 7.5 euros/RMB).
Therefore, AT&S anticipates that revenue of roughly € 2.2 billion will be generated in the financial year 2022/23 (previously: approx. € 2 billion). The expected EBITDA margin adjusted for start-up costs will increase to 27 to 30% (previously: 23 to 26%). The assumptions regarding start-up costs (€ 75 million) and the investment volume (€ 1,250 million) remain unchanged. The outlook is based on the assumption that the global economy will not enter a recession, no direct negative financial effects of the geopolitical upheavals will result from the war in Ukraine and the Covid situation in China will not lead to any long-term production downtimes.
This last weekend, industry guru and dear friend to many, Martin Cotton passed away. He was one of the first people I worked with in the electronics industry when I joined Toptec Design to learn to layout PCBs. He was a bit of a rock star to many PCB designers, myself included. He was known to be among the best in his field, if not the best, and went on to be one of the most influential and innovative people in the industry over a long and distinguished career. He will be hugely missed by his family and by his numerous friends in and out of the electronics industry.
Nolan Johnson, PCB007
Twenty-plus years is a long time to lead a business during a long decline in the industry, but IMI President and CEO Peter Bigelow remains quite confident about the future. The company is in a strong financial position, running well, and looking at new technologies. So, what’s his biggest challenge? It’s not much different than any other manufacturer you talk to, and while he may not have all the answers, he’s clearly got insight to share.
Nolan Johnson, I-Connect007
It’s almost as if upheaval is the new normal. We often describe slow-moving but unstoppable change as moving in “geologic time.” But occasionally–like an earthquake–geology shifts suddenly. Here in my office, tracking the news of the industry, things are moving faster than geologic time, but more slowly than the jolt of an earthquake. The wave seems almost surfable, where before it seemed overwhelming. In this week’s list, we bring news from five different, high-vibration areas in our industry. If you read nothing else this week, these five items will keep you informed.